Until relatively recently, consumers desiring to determine how much money they had available to make purchases simply had to check the contents of their wallets. However, with the emergence, and dominance, of electronic payment methods and accounts such as, but not limited to, credit cards, debit cards, and/or ATM cards, keeping track of available funds has become significantly more complicated.
For instance, a consumer considering a purchase through a website, or while in a store, who desires to use an electronic payment method must currently either try to remember, and/or calculate, their balance in the account associated with the electronic payment method, or, for more certainty, must postpone the purchase while they utilize one or more remote means, such as logging onto separate websites associated with one or more financial institutions, and/or calling telephone numbers associated with their credit and debit cards, and/or utilizing physical locations such as ATMs, to check their balance in the account associated with the electronic payment method the consumer desires to use.
There is little question that the various electronic payment methods and accounts available today are far more convenient, and offer considerably more security, than carrying around large amounts of cash. However, the current need to obtain balance information in actions, and/or from sources, that are separate and distinct from the purchase transactions often represents a significant inconvenience to the consumer. For example, the consumer may desire to make a purchase immediately and/or without having to either recall or check their account balances. In addition, the consumer may be using a mobile computing system so that logging into a separate website may not be convenient, an option, or even safe.
The current situation discussed above can represent a significant barrier to some consumer purchases. Consequently, the current situation can be problematic for both consumers, who would like to make purchases easily and be confident they can afford and/or pay for the purchases, as well as merchants, who would like to encourage purchases. What is needed is a method and system for allowing consumers access to information regarding their account balances that is simple to use but still provides the consumer with acceptable levels of privacy and security.